MELBOURNE/SINGAPORE (Reuters) – Oil prices gained on Tuesday, reversing overnight losses, as investors moved into risk assets and stayed away from the safe-haven U.S. dollar which hit multi-year lows. Brent crude LCOc1 futures climbed 47 cents, or 1%, to $45.7... More »
(Reuters) – Oil refiners are permanently closing processing plants in Asia and North America and facilities in Europe could be next as uncertain prospects for a recovery in fuel demand after the coronavirus pandemic triggered losses. The pandemic initially cut... More »
LONDON (Reuters) – Oil rose on Monday, supported by an improvement in Chinese factory data and rising energy demand as countries eased coronavirus-related lockdowns, but traders remained cautious due to U.S.-China tensions and uncertainty over a U.S. stimulus ... More »
DUBAI (Reuters) – State oil giant Saudi Aramco’s profit plunged 73% in the second quarter of the year, as a slump in energy demand and prices due to the coronavirus crisis hit sales at the world’s biggest oil exporter. But the company stuck with plans to pay $... More »
LONDON (Reuters) – Oil prices steadied on Monday, pressured by rising COVID-19 cases around the globe and by oversupply worries as OPEC and its allies are set to wind back output cuts in August, but supported by positive industry data in Europe and Asia. Brent... More »
(Reuters) – U.S. oil refiner Marathon Petroleum Corp posted a smaller-than-expected quarterly loss on Monday, hours after it announced the sale of its Speedway gas stations to Japan’s Seven & I (3382.T) for $21 billion, which is expected to ease the refiner’s ... More »
SINGAPORE/LONDON (Reuters) – Oil prices edged higher on Monday helped by a weak dollar and expected U.S. stimulus measures but gains were capped by rising global coronavirus cases and tensions between the United States and China. Brent crude LCOc1 rose 32 cent... More »
LONDON (Reuters) – Oil prices fell on Monday as coronavirus cases increased in many countries across the globe, but investors remained cautiously optimistic about ongoing talks over a European Union-wide recovery fund to revive economies affected by the pandem... More »
LONDON (Reuters) – Oil prices fell on Monday on a record daily rise in global coronavirus cases, with big spikes in infections over the weekend in the United States, while traders await an OPEC meeting expected to recommend an easing of supply cuts. Brent crud... More »
OTTAWA (Reuters) – Producer prices in Canada gained 0.4% in June from May, primarily on higher prices for energy and petroleum products, Statistics Canada said on Friday in a preliminary flash estimate. Energy and petroleum prices jumped 11.7%, the agency said... More »
LONDON (Reuters) – Oil prices slipped on Tuesday amid rising COVID-19 cases and a possible return of Libyan oil production, which has been down to a trickle since the start of the year. The more-active September contract for Brent LCOc2 fell 37 cents, or 0.88%... More »
LONDON (Reuters) – Oil prices were steady on Monday, supported by tighter supplies from major producers but held in check by concerns over a record rise in global coronavirus infections that could stall a recovery in fuel demand. Brent crude LCOc1 rose 5 cents... More »
NEW YORK (Reuters) – Oil prices fell on Monday as new coronavirus infections hit the United States and China, feeding worries that renewed lockdowns could hamper economic recovery and dent fuel demand. U.S. West Texas Intermediate crude fell 35 cents, or 1%, t... More »
LONDON (Reuters) – Vitol’s former chief executive and chairman Ian Taylor has died at the age of 64 from cancer, according to an internal memo and four sources familiar the matter. Taylor joined Vitol [VITOLV.UL] in 1985 and became group President and CEO in 1... More »
LONDON (Reuters) – Oil prices fell on Tuesday weighed down by a stronger dollar and oversupply concerns after it was announced that a trio of Gulf producers would end voluntary output cuts. Brent crude was down 85 cents, or 2.1% to $39.95 a barrel by 0912 GMT.... More »
FRANKFURT (Reuters) – Worldwide electric car registrations are set to fall 18% this year, but those of combustion engine cars are set to drop even faster, analysts BloombergNEF (BNEF) said on Tuesday, as the automotive sector is hammered by the coronavirus cri... More »
TOKYO (Reuters) – Oil prices rose for a fourth straight session on Tuesday amid signs that producers are cutting output as promised just as demand picks up, stoked by more countries easing out of curbs imposed to counter the coronavirus pandemic. Brent crude c... More »
MELBOURNE/SINGAPORE (Reuters) – Oil futures rose on Tuesday, boosted by an unexpected commitment from Saudi Arabia to deepen production cuts in June in a bid to help drain the glut in the global market that has built up as the coronavirus pandemic crushed fuel... More »
WASHINGTON (Reuters) – A federal judge in Montana on Monday upheld his ruling last month that canceled an environmental permit for the long-delayed Keystone XL oil pipeline and threatened other oil and natural gas pipeline projects with delays. Chief U.S. Dist... More »
NEW YORK (Reuters) – Oil prices were mixed on Monday as countries started to ease coronavirus lockdowns, though a fresh spat between the United States and China over the origin of the virus weighed on prices. Worldwide fuel demand fell by an estimated 30% in A... More »
SINGAPORE (Reuters) – Oil prices fell on Monday on signs that worldwide oil storage is filling rapidly, raising concerns that production cuts will not come fast enough to fully offset the collapse in demand from the coronavirus pandemic. U.S. oil futures led l... More »
SEOUL (Reuters) – U.S. oil prices hobbled back into positive territory on Tuesday after sinking below $0 for the first time ever, but international benchmark Brent dipped as the global coronavirus crisis severely reduces demand for crude. U.S. West Texas Inter... More »
(Reuters) – A historic rout in oil markets sent U.S. crude prices plummeting to as much as minus $40 a barrel as traders rushed to get rid of unwanted stocks with storage capacity already overflowing amid a coronavirus-induced demand collapse. U.S. West Texas ... More »
(Reuters) – The price of a barrel of benchmark U.S. oil plunged below $0 a barrel on Monday for the first time in history, a troubling sign of an unprecedented global energy glut as the coronavirus pandemic halts travel and curbs economic activity. The contrac... More »
SINGAPORE (Reuters) – Oil prices rose on Monday after major producers finally agreed their biggest-ever output cut, but gains were capped amid concern that it won’t be enough to head off oversupply with the coronavirus pandemic hammering demand. After four day... More »
BAKU/DUBAI/LONDON (Reuters) – OPEC and allies led by Russia agreed on Sunday to a record cut in output to prop up oil prices amid the coronavirus pandemic in an unprecedented deal with fellow oil nations, including the United States, that could curb global oil... More »
(Reuters) – Goldman Sachs said on Sunday that oil prices would continue to fall in the coming weeks, reasoning that a “historic yet insufficient” deal by major oil producers to cut output is unlikely to offset a coronavirus-led demand rout. The Organization of... More »
TOKYO (Reuters) – The agreement by the Organization of the Petroleum Exporting Countries (OPEC) and its allies to cut output failed to reach the reduction levels expected by the market, leading to oil prices remaining stagnant, the head of the Japanese petrole... More »
CAIRO (Reuters) – Iraq’s oil minister said late on Sunday that the big oil cut deal reached at an OPEC+ meeting would help stabilize the market. Thamer al-Ghadhban said in a statement that the “massive oil cut deal will help lower oil inventories and boost pri... More »
LONDON (Reuters) – Oil prices fell on Monday, after Saudi Arabia and Russia delayed a meeting to discuss output cuts that could help reduce global oversupply as the coronavirus pandemic pummels demand. Brent crude LCoc1 fell more than $3 when Asian markets ope... More »
NEW YORK (Reuters) – Global benchmark oil prices traded as much as $3 a barrel lower as the market opened for Monday’s trading session, reflecting fears of oversupply after Saudi Arabia and Russia postponed to Thursday a meeting about a potential pact to cut p... More »
LONDON (Reuters) – Deep oil output cuts by OPEC and other producing nations would not be enough to prevent a huge build in global crude inventories in the second quarter as measures to contain the coronavirus lead to “unprecedented” demand loss, the head of th... More »
LONDON (Reuters) – Benchmark Brent crude oil futures climbed to as high as $34.91 a barrel on Friday on rising hopes of a new global deal to cut global crude supply. Brent crude LCOc1 futures were up 12.9%, or $3.9, at $33.83 a barrel by 1321 GMT. Brent soared... More »
WASHINGTON (Reuters) – U.S. President Donald Trump on Thursday said he would get involved in the oil price war between Saudi Arabia and Russia at the appropriate time, saying low gasoline prices were good for U.S. consumers even as they were hurting the indust... More »
LONDON (Reuters) – U.S. crude fell below $30 on Monday as emergency rate cuts by the U.S. Federal Reserve and its global counterparts failed to tame markets and China’s factory output plunged at the sharpest pace in 30 years amid the spread of coronavirus. Bre... More »
KUALA LUMPUR (Reuters) – A fire killed five people at a refining and petrochemicals complex in southern Malaysia owned by Petronas and Saudi Aramco, authorities said on Monday. It was the second fire in less than a year at the $27 billion Pengerang Integrated ... More »
SINGAPORE (Reuters) – Oil extended losses on Monday as an emergency rate cut by the U.S. Federal Reserve failed to soothe global financial markets panicked by the rapid spread of the coronavirus while a price war rages on between top producers. Brent crude fel... More »
SINGAPORE (Reuters) – Oil prices jumped more than 4%, up from multi-year lows hit earlier on Monday, as hopes of a deeper cut in output by OPEC and stimulus from central banks countered worries about damage to demand from the coronavirus outbreak. Brent crude ... More »
SINGAPORE (Reuters) – Oil prices slipped lower on Monday as traders assessed China’s oil demand following the coronavirus outbreak and waited to see if major producers will cut output further to balance markets. Oil is off more than 20% from peaks struck in Ja... More »
SINGAPORE (Reuters) – Brent crude prices fell on Monday to their lowest in more than a year, dragged down by worries about lower demand in China, the world’s largest oil importer, following a coronavirus outbreak there. There are signs fuel demand has plunged ... More »
TOKYO (Reuters) – Crude prices fell more than 2% to multi-month lows on Monday as the rising number of cases of the new coronavirus in China and city lockdowns there deepened concerns over oil demand. Brent crude LCOc1 fell by $1.28 a barrel, or 2.1%, to $59.4... More »
MILL VALLEY, California (Reuters) – Electric vehicle startup Rivian on Saturday displayed its pickup truck and SUV at an event in San Francisco’s Bay Area and said that when their prices are unveiled soon they will be lower than has been previously announced. ... More »
LONDON (Reuters) – Oil prices rose slightly on Monday as investors shift their focus away from easing Mideast tensions to this week’s scheduled signing of an initial U.S.-China trade deal which could boost economic growth and demand. Brent crude LCOc1 was up 2... More »
TOKYO (Reuters) – Oil prices steadied on Thursday a day after tumbling on concerns raised by an Iranian missile strike on Iraqi bases hosting U.S. forces. Brent crude futures were down 5 cents at $65.40 a barrel by 0728 GMT after a 4.1% fall on Wednesday. They... More »
NEW YORK (Reuters) – Oil prices fell almost 1% on Tuesday, surrendering some recent gains as investors reconsidered the likelihood of immediate supply disruptions in the Middle East after the United States killed a top Iranian military commander last week. Bre... More »
SINGAPORE (Reuters) – China’s Hengyi Petrochemical Co Ltd is operating its new 160,000 barrels per day refinery in Brunei at near full capacity after trial production began in July, two company officials told Reuters. The plant in Palau Muara Besar is one of f... More »
TOKYO (Reuters) – Oil prices fell on Monday, but were holding near recent three-month highs amid expectations that the United States and China will soon agree on a trade deal, with President Donald Trump saying an agreement would be signed “very shortly”. Bren... More »
JAKARTA (Reuters) – Indonesia expects to sign more deals with the United Arab Emirates in the energy, health and education sectors during a visit to the country next month by President Joko Widodo, a ministry statement released on Monday said. The Indonesian g... More »
SINGAPORE (Reuters) – Oil prices on Monday slid off near three-month highs hit last week as investors searched for clarity beyond the initial impact of a trade deal between the United States and China that’s expected to boost flows between the top two global e... More »
BEIJING/SINGAPORE (Reuters) – China and the United States have agreed terms of a “phase one” trade deal under which Washington reduced some tariffs and Beijing canceled retaliatory duties that were previously scheduled to take effect on Dec. 15. Before Sunday’... More »
TOKYO (Reuters) – Oil prices fell on Monday after data showed that Chinese exports declined for a fourth straight month, sending shivers through a market already concerned about damage being done to global demand by the Sino-U.S. trade war. Brent futures LCOc1... More »
LONDON (Reuters) – Oil jumped above $61 a barrel on Monday, supported by hints that OPEC and its allies may agree to deepen output cuts at a meeting this week and as rising manufacturing activity in China suggested stronger demand. The Organization of the Petr... More »
DUBAI/LONDON (Reuters) – OPEC and its allies plan to deepen oil cuts and have the deal in place so it runs at least until June 2020 as Saudi Arabia wants to deliver a positive surprise to the market before the listing of Saudi Aramco, two sources familiar with... More »
DUBAI (Reuters) – Iranian Vice President Eshaq Jahangiri on Saturday warned regional countries of consequences if it is proven that they meddled to stoke recent unrest in Iran. “Some countries in the region should know that they will not have an easy life in t... More »
SINGAPORE (Reuters) – Oil prices inched higher on Monday, extending steady gains from the previous week, with investors awaiting fresh clues over prospects for a trade deal between the United States and China and shrugging off concerns over steadily rising oil... More »
LONDON (Reuters) – Oil prices dipped on Monday after U.S. President Donald Trump appeared to downplay reports of an imminent lifting of tariffs in a protracted U.S.-Chinese trade war. Brent crude was down 87 cents at $61.64 by 1030 GMT. The contract gained 1.3... More »
BEIJING/SHANGHAI (Reuters) – Fewer new energy vehicles (NEV) could be sold in China this year than in 2018, an official at the country’s biggest auto industry association said on Monday, as customers hold back on purchases following a government decision to cu... More »
DHAHRAN, Saudi Arabia/DUBAI (Reuters) – Saudi Arabia’s giant state oil company finally kick-started its initial public offering (IPO) on Sunday, announcing its intention to float on the domestic bourse in what could be the world’s biggest listing as the kingdo... More »
SINGAPORE (Reuters) – Oil prices eased on Monday as traders took profit ahead of fresh European and U.S. economic data, despite hopes for some resolution to the U.S.-China trade row that has hurt global economic growth and crimped energy demand. Prices jumped ... More »
FRANKFURT (Reuters) – Germany should have one million charging stations for electric cars by 2030, Chancellor Angela Merkel said in a video message on Sunday, ahead of meetings on Monday with the car industry on how to speed the move to low-emission battery-po... More »
TOKYO (Reuters) – Oil prices fell on Monday after strong gains last week, as data released in China reinforced signs that its economy is slowing, though progress in China-U.S. trade talks has supported prices. Brent crude was down 34 cents, or 0.4%, at $61.79 ... More »
PIXLEY, Calif. (Reuters) – Joey Airoso has always been proud of his cows, whose milk goes into the butter sold by national dairy company Land O’Lakes. Now he has something new to brag about: the vast amounts of gas produced by his 2,900-head herd is powering t... More »
SINGAPORE (Reuters) – Oil prices largely held steady on Monday, recouping some early losses as investors took stock of global economic pressures that could impact oil demand. Global benchmark Brent crude oil futures LCOc1 were down 1 cent to $59.41 a barrel by... More »
BEIJING (Reuters) – Many privately held firms in Shandong, China’s third-biggest province by economic output, are struggling to repay short-term debt due to declining industry fundamentals, entangled cross guarantees and ill-managed investments, S&P Global Rat... More »
LONDON (Reuters) – Royal Dutch Shell (RDSa.L) still sees abundant opportunity to make money from oil and gas in coming decades even as investors and governments increase pressure on energy companies over climate change, its chief executive said. But in an inte... More »
SINGAPORE (Reuters) – Oil prices fell on Tuesday, after heavy losses in the previous session, as two days of weak Chinese data added to worries about the top crude oil importer’s energy demand growth. Brent crude LCOc1 fell 42 cents, or 0.71%, to $58.93 a barr... More »
SINGAPORE (Reuters) – Oil prices were mixed on Monday with traders pegging cautious hopes for a rebound from last week’s losses on progress in talks on ending the U.S.-China trade war, against a backdrop of global economic slowdown weighing on future oil deman... More »
SINGAPORE (Reuters) – Oil prices slipped on Monday as China’s economic outlook remained weak even as manufacturing data improved as an ongoing trade war with the United States weighs on demand growth at the world’s largest crude importer. Brent crude LCOc1 fut... More »
TOKYO (Reuters) – Oil prices weakened on Monday after new tariffs imposed by the United States and China came into force, raising concerns about a further hit to global growth and demand for crude. Brent crude slipped 22 cents, or 0.4%, to $59.03 a barrel by 0... More »
TOKYO (Reuters) – (This August 29 story has been corrected to say China National Offshore Oil Corp, not CNOOC Ltd, in paragraph three.) Japan imported its first cargo of liquefied natural gas (LNG) from China in July as utilities from the world’s biggest buyer... More »
TOKYO (Reuters) – Oil prices rose on Tuesday after U.S. President Donald Trump predicted a trade deal with China after positive comments by Beijing, calming nerves after a round of tit-for-tat tariff hikes had sent markets reeling. Brent crude LCOc1 was up by ... More »
LONDON/SINGAPORE (Reuters) – Crude oil prices rose on Monday following a weekend attack on a Saudi oil facility by Yemeni separatists and as traders looked for signs that Sino-U.S. trade tensions could ease. Price gains were, however, capped to some degree by ... More »
SINGAPORE (Reuters) – China National Petroleum Corp, a leading buyer of Venezuelan oil, has halted August loadings following the latest set of U.S. sanctions on the South American exporter, two Beijing-based senior sources with direct knowledge of the matter t... More »
SEOUL (Reuters) – Oil prices edged lower on Monday amid worries about an economic slowdown and the Sino-U.S. trade war, which have led to a cut in the growth outlook for global oil demand. International benchmark Brent crude futures were at $58.40 a barrel by ... More »
BEIJING (Reuters) – The death toll from typhoon Lekima in eastern China rose to 44 people on Monday morning, according to official data, as the storm continued up the coast, racking up billions of dollars in economic losses and widely disrupting travel. An add... More »
LONDON (Reuters) – Oil prices rose slightly on Monday as Chinese industrial output and retail data topped expectations but gains were capped by overall figures showing the country’s slowest quarterly economic growth in decades. The positive Chinese data may in... More »
SINGAPORE/BEIJING (Reuters) – China’s fuel producers are making extended curbs to their output in the third quarter after supply from mammoth new refineries stoked an already-sizeable glut, potentially dragging on crude oil demand from the world’s biggest impo... More »
TOKYO (Reuters) – Crude prices were little changed on Monday as traders weighed geopolitical risks against the impact of the Sino-U.S. trade war on the global economy, although last week’s better-than-expected U.S. jobs data offered some supprt. Brent crude fu... More »
(Reuters) – Morgan Stanley lowered its long-term Brent price forecast on Tuesday and said the oil market is broadly balanced in 2019 after OPEC and its allies including Russia agreed to extend their production cuts by even longer than expected. The bank lowere... More »
LONDON (Reuters) – Oil prices rose over $2 a barrel on Monday as OPEC and its allies looked on track to extend supply cuts until at least the end of 2019 at their meeting in Vienna this week. Front-month Brent crude futures touched an intraday high of $66.75 a... More »
TOKYO (Reuters) – Oil prices rose on Monday to extend gains from last week, bolstered as tensions remain high between Iran and the United States after U.S. Secretary of State Mike Pompeo said “significant” sanctions would be announced on Tehran. Brent futures ... More »
TOKYO (Reuters) – Oil prices fell for a second day on Tuesday on signs that global economic growth is being hit by the U.S.-China trade war, although losses were limited by tensions in the Middle East after last week’s tanker attacks. Brent crude futures were ... More »
PARIS (Reuters) – Energy major Total said its new supercomputer – which has propelled it to a world ranking as the most powerful computer in the sector – will enable its geologists to find oil faster, cheaper and with a better success rate. The Pangea III comp... More »
WASHINGTON (Reuters) – The United States is preparing to send additional troops to the Middle East in response to mounting concerns over Iran, which Washington blames for attacks on oil tankers last week, two U.S. officials told Reuters on Monday, speaking on ... More »
WASHINGTON (Reuters) – The U.S. military on Monday released new images it says showed Iran’s Revolutionary Guard (IRGC) removing an unexploded limpet mine from a Japanese-owned tanker that was attacked on June 13 in the Gulf of Oman, as Washington blames Tehra... More »
NEW YORK (Reuters) – Oil prices fell more than 1% on Monday after more poor Chinese economic figures fanned fears of lower worldwide oil demand. Brent crude futures lost $1.07 to settle at $60.94 a barrel, a 1.73 percent loss. U.S. West Texas Intermediate (WTI... More »
SINGAPORE (Reuters) – Oil prices rose on Monday after Saudi Arabia said producer club OPEC and Russia should restrict supplies to current levels, while Washington’s withdrawal of a tariff threat against Mexico removed a cloud over the global economy. However, ... More »
SINGAPORE/BEIJING (Reuters) – China’s crude oil imports slipped 8% in May from an all-time peak hit the month before, customs data showed, as the world’s top importer of the commodity curbed shipments from Iran amid tightening U.S. sanctions on that country. C... More »
SINGAPORE (Reuters) – Oil prices fell more than 1% on Monday, extending losses of over 3% from Friday, when crude markets slipped to their biggest monthly losses in six months amid stalling demand and as trade wars fanned fears of a global economic slowdown. F... More »
SINGAPORE (Reuters) – Oil prices fell on Monday, extending losses from last week when crude dropped the most this year on concerns the Sino-U.S. trade war could trigger a broad economic slowdown, although OPEC’s supply cuts provided some support. U.S. West Tex... More »
NEW YORK (Reuters) – Philadelphia Energy Solutions will defer retirement payments to union members until next year, the company said in a letter to the union last week, the latest sign the refiner is struggling to find its financial footing after emerging from... More »
SINGAPORE (Reuters) – Oil prices tumbled on Monday after U.S. President Donald Trump said he would sharply hike tariffs on Chinese goods this week, risking the derailment of trade talks between the world’s two biggest economies. U.S. West Texas Intermediate (W... More »
SINGAPORE (Reuters) – Oil prices jumped on Monday as the United States looked set to announce that all buyers of Iranian oil must end their imports or be subject to sanctions. Brent crude futures rose as much as 3.3 percent to $74.31 a barrel, the highest sinc... More »
WASHINGTON/SINGAPORE (Reuters) – The United States is expected to announce on Monday that buyers of Iranian oil need to end imports soon or face sanctions, a source familiar with the situation told Reuters, triggering a 3 percent jump in crude prices to their ... More »
SINGAPORE (Reuters) – Oil prices slipped on Monday, with concerns of a sharp economic slowdown outweighing supply disruptions from OPEC’s production cutbacks and from U.S. sanctions on Iran and Venezuela. Brent crude oil futures were at $66.73 per barrel at 07... More »
NEW YORK (Reuters) – U.S. sanctions on Venezuela’s oil industry have made winners out of Royal Dutch Shell Plc and BP Plc, Gulf of Mexico offshore heavyweights, as refiners in need of substitutes are scooping up oil produced in the region. Those two companies ... More »
DEER PARK, Texas (Reuters) – Hundreds of neighborhood residents of a petrochemical plant that burned for three days and briefly emitted cancer-causing benzene into the air brought their coughs, headaches and other symptoms to a mobile clinic on Friday set up b... More »
SINGAPORE (Reuters) – Oil prices dipped on Monday amid concerns that an economic downturn may dent fuel consumption, but crude markets remain broadly supported by supply cuts led by producer group OPEC and U.S. sanctions against Iran and Venezuela. Brent crude... More »
DUBAI (Reuters) – Saudi Arabia plans to cut its crude oil exports in April to below 7 million barrels per day (bpd), while keeping its output “well below” 10 million bpd, a Saudi official said on Monday, as the kingdom seeks to drain a supply glut and support ... More »
SINGAPORE (Reuters) – Oil prices rose on Monday, lifted by comments from Saudi oil minister Khalid al-Falih that an end to OPEC-led supply cuts was unlikely before June and a report showing a fall U.S. drilling activity. U.S. West Texas Intermediate (WTI) crud... More »
